Today TaxMama® hears from someone else in the TaxQuips Forum who is being audited. “This person is being audited by IRS for a child tax credit. At this point, she can no longer locate the care provider to get her Social Security Number – the woman’s phone is disconnected. She didn’t get receipts for her […]
Tag Archives: Internal Revenue Service
Today TaxMama® hears from someone in the TaxQuips Forum who was overwhelmed. Let summarize. “After a grueling audit, and a lot of personal tragedies, the IRS agent went back and reviewed the medical mileage. Despite having detailed evidence to prove the mileage, the reason it was medical mileage, and the reason the treatment needed to […]
Today TaxMama® hears from sh1207 in the TaxQuips Forum with this question. “In 2011, my wife started a home-run Montessori school in October. We spent about $2,000 in setting up the Montessori (supplies, furniture, license, etc.). We only got $600 in income from one child, who was with us for 3 hrs a day starting […]
Dear Family, I left the house this week. You don’t think that’s news? Let me tell you, I am so well cocooned here in this office, that I can reach out and do anything from here – even teach a class with a 100 people. And do a fabulous Twitter chat with Melinda Emerson the […]
IRS YouTube Videos: Haven’t Filed a Tax Return in Years?:English | Spanish | ASL IR-2012-26, Feb. 23, 2012 WASHINGTON — Refunds totaling more than $1 billion may be waiting for one million people who did not file a federal income tax return for 2008, the Internal Revenue Service announced today. However, to collect the money, […]
Hold Schedule C returns (02-23-2012) The FTB has changed Schedule CA to reduce the amount of self-employment tax deductible for California purposes. According to the FTB, taxpayers may only deduct 50% of the self-employment tax for California purposes, while they can deduct more than 50% for federal purposes. If the FTB is correct, there will […]
Here’s a moral question for you. It’s hypothetical but it shows what kind of character you have. Here’s the situation: You are in the Midwest, and there is a huge flood in progress. Many homes have been lost, water supplies compromised, and infrastructure destroyed. Let’s say you’re a photographer out getting still photos for […]
Today TaxMama® hears from Gary in the TaxQuips Forum who has this problem. Let me paraphrase: “Gary has already filed his LLC’s tax return, reporting all his income properly. Suddenly, nearly three weeks past the 1099 deadline, he gets a 1099 showing income he received, plus reimbursements for materials and supplies – that were not […]
Today TaxMama® hears from Tom in the TaxQuips Forum with this issue. “I rolled over a 401k directly to a Roth IRA in 2010. I received a 1099 for this, but did not fill out an 8606 when I submitted my 2010 return. The plan was to report half of the taxable amount in 2011 and […]
Today TaxMama® hears from Klondike in the TaxQuips Forum with this question. “In March, I purchased a new mobile home and placed it on property I own. It is skirted with wheels removed and set on cement pillars. My son lives in the home and pays rent. Is it best to depreciate the home for […]
Courtesy of the IRS If you, your spouse or dependents had significant medical or dental costs in 2011, you may be able to deduct those expenses when you file your tax return. Here are eight things the IRS wants you to know about medical and dental expenses and other benefits.
The Internal Revenue Service has issued its annual “Dirty Dozen” tax scams list, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. The Dirty Dozen listing, compiled by the IRS each year, lists a variety of common scams taxpayers […]